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The Evolving Role of Cyber Insurance in Mitigating Ransomware Attacks

SecureWorld News

In this regard, many have touted cyber insurance as the knight in shining armor, the end all-be all in terms of mitigating criminals' assaults on your network. For example, the healthcare sector, a prime target for these types of attacks , planned to spend $125 billion to defend against breaches from 2020 to 2025.

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Cyber Insurance Premiums Suddenly Surging

SecureWorld News

New research reveals that a record number of organizations are buying cyber insurance policies as a tool for protecting themselves against cyber risk. However, the cost for those policies is rising dramatically as cyber insurance premiums soar up to 30% vs. the previous year. cyber insurance market.

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As market for cyber insurance booms, watchdog calls for better data

SC Magazine

Overall, insurance companies seem to be responding to increased demand from clients for cyber-specific insurance, and one survey found that the two things most likely to spur a purchase of cyber insurance are when a business experiences a cyber attack and when they hear about other companies being hit by a cyber attack.

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Ransomware: Number One Cyber Insurance Claim

SecureWorld News

Trends of cyber insurance claims for 2020. Coalition, a cyber insurance company, recently released a report detailing the categories of cyber attacks as well as the cause behind the attacks for the first half of 2020. These industries include consumer businesses, healthcare, and financial services.

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26 Cyber Security Stats Every User Should Be Aware Of in 2024

Security Affairs

26 key cyber security stats for 2024 that every user should know, from rising cyber crime rates to the impact of AI technolog y. Cyber Crime Surge: During COVID-19 , cyber crimes shot up by 600%, showing how threats adapt to global changes. Cyber Skills Gap: By 2025, there could be 3.5 million per breach.

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After Springhill: Assessing the Impact of Ransomware Lawsuits

eSecurity Planet

“From a technological standpoint this is a fairly old case, so whatever was in place then probably isn’t relevant to what needs to be in place today – but it does tie together the absolute gravity of the situation that we’re in,” Crockett said. .” ” Cyber Insurance No Longer Reliable.

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Ransomware Prevention, Detection, and Simulation

NetSpi Executives

Ransomware, a definition Ransomware is a set of malware technologies, hacking techniques, and social engineering tactics that cybercriminals use to cause harm, breach data, and render data unusable. Some can’t afford not to pay, and some are covered by cyber insurance. Should I get a ransomware cyber insurance policy?